State of New Jersey Common Pension Fund D Makes New $1.49 Million Investment in Powell Industries, Inc. (NASDAQ:POWL)

State of New Jersey Common Pension Fund D bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,719 shares of the industrial products company's stock, valued at approximately $1,489,000. State of New Jersey Common Pension Fund D owned about 0.06% of Powell Industries at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in Powell Industries during the fourth quarter worth about $26,000. Hollencrest Capital Management bought a new position in Powell Industries during the third quarter worth about $30,000. Quest Partners LLC bought a new position in Powell Industries during the third quarter worth about $35,000. Blue Trust Inc. bought a new position in Powell Industries during the fourth quarter worth about $40,000. Finally, Farther Finance Advisors LLC boosted its holdings in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after buying an additional 105 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Wall Street Analysts Forecast Growth

POWL has been the topic of a number of recent analyst reports. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a report on Sunday, February 23rd. Finally, Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They set a "buy" rating and a $312.00 price objective on the stock.

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Powell Industries Trading Up 2.6 %

Shares of NASDAQ:POWL traded up $4.23 during trading on Friday, hitting $169.71. 530,722 shares of the company's stock traded hands, compared to its average volume of 535,224. Powell Industries, Inc. has a 52 week low of $122.00 and a 52 week high of $364.98. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.87. The company has a 50-day moving average price of $228.94 and a 200-day moving average price of $234.16.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. On average, analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, February 19th. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is currently 8.12%.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.